Western Union (WU) FY2015 results: revenue $5.5 billion, down 2.2% on the year
Western Union Co. (WU) reported revenue of $5.5 billion for fiscal 2015, the year ended 31 December 2015, down 2.2% on the year before. Net income was $838 million, down 1.7%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$5.5 billion
-2.2% on the year
FY2008FY2015
Operating margin
20.2%
20.3% a year earlier
FY2008FY2015
Net income
$838 million
-1.7% on the year
FY2008FY2015
Diluted EPS
$1.62
+1.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,484
5,607
5,542
-2.2%
Cost of revenue
3,199
3,297
3,235
-3.0%
Gross profit
2,284
2,310
2,307
-1.1%
Gross margin
41.7%
41.2%
41.6%
Selling, general and administrative
1,175
1,169
1,200
+0.5%
Operating income
1,109
1,140
1,107
-2.7%
Operating margin
20.2%
20.3%
20.0%
Interest expense
168
177
196
-4.9%
Pre-tax income
942
968
927
-2.7%
Income tax
104
116
128
-10.2%
Effective tax rate
11.0%
12.0%
13.9%
Net income
838
852
798
-1.7%
Net margin
15.3%
15.2%
14.4%
Diluted EPS
$1.62
$1.59
$1.43
+1.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,071
1,046
1,089
+2.4%
Capital expenditure
94.4
67.8
80.2
+39.2%
Free cash flow
977
978
1,008
-0.1%
Free cash flow margin
17.8%
17.4%
18.2%
Cash from investing
-286
-89.4
-341
Cash from financing
-1,252
-1,246
-451
Depreciation and amortisation
270
272
263
-0.6%
Share-based compensation
42.2
39.7
34.5
+6.3%
Buybacks
511
495
400
+3.2%
Dividends paid
316
265
277
+19.3%
Dividend per share
$0.62
$0.50
$0.50
+24.0%
Diluted shares, weighted
517m
537m
560m
-3.7%
Shares outstanding at period end
502m
522m
549m
-3.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,405
1,300
1,105
+8.0%
Debt
3,216
3,720
4,213
-13.6%
Other liabilities
4,838
4,870
4,804
-0.6%
Total liabilities and equity
9,459
9,890
10,121
-4.4%
Fixed assets
232
206
210
+12.3%
Goodwill
3,164
3,169
3,172
-0.2%
Intangible assets
705
748
834
-5.8%
Cash and equivalents
1,316
1,783
2,073
-26.2%
Other assets
4,042
3,984
3,832
+1.5%
Total assets
9,459
9,890
10,121
-4.4%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.